This Forum has been archived there is no more new posts or threads ... use this link to report any abusive content
==> Report abusive content in this page <==
Post Reply 
 
Thread Rating:
  • 0 Votes - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
what were some safety nets put into the stock market after the 1929 crash?
01-30-2013, 10:27 AM
Post: #2
 
Right after the crash, in 1933 congress passed the Securities Act of 1933. This act required that investors receive financial and other significant information concerning securities being offered for public sale; and prohibited deceit, misrepresentations, and other fraud in the sale of securities.

In 1934 congress passed the Securities Exchange Act of 1934. This created the Securities and Exchange Commission. The Act empowered the SEC with broad authority over all aspects of the securities industry. This includes the power to register, regulate, and oversee brokerage firms, transfer agents, and clearing agencies as well as the nation's securities self regulatory organizations (SROs). The various stock exchanges, such as the New York Stock Exchange, and American Stock Exchange are SROs. The National Association of Securities Dealers, which operates the NASDAQ system, is also an SRO.

This act also gave the Federal Reserve authority to regulate margin requirements for the purchase of securities.

Throughout the years since 1929 there have been various rules and regulation put in place regarding the purchase and sales of securities. Some temporaray and some more perminent.

Of course we can not ignore the Social Security Act which came out of the great depression, not specifically from the 1929 crash though.

Ads

Find all posts by this user
Quote this message in a reply
Post Reply 


Messages In This Thread
[] - muncie birder - 01-30-2013 10:27 AM
[] - perfectlybaked - 01-30-2013, 10:27 AM
[] - cold_fearrrr - 01-30-2013, 10:27 AM
[] - Carole W - 01-30-2013, 10:27 AM

Forum Jump:


User(s) browsing this thread: 1 Guest(s)